From TradingView · · 40s
Ethereum Bounce Tests Key Fib Zone
Ethereum price bounces near 0.5-0.618 Fibonacci retracement level on 4H chart.
In brief
Ethereum price bounces near 0.5-0.618 Fibonacci retracement level on 4H chart. Ethereum price bounced from $2,329 to $2,446, testing 0.5 Fibonacci retracement level before potential move toward $2,459. Originally reported by TradingView.
Price Action
Ethereum price dropped 6.6% from $2,494 to $2,329 between Oct 16 and Oct 18.
Current Bounce
Price rebounded to $2,446 on Oct 19, a 71% retracement of the down leg.
Fibonacci Levels
0.5 line at $2,412 and 0.618 at $2,431 form key resistance zones.
Price Action Outlook
Price holds near 0.5 line could extend toward $2,459 or retest $2,329 low.
What matters most
Ethereum price bounced from $2,329 to $2,446, testing 0.5 Fibonacci retracement level before potential move toward $2,459.
